How old were you when you started taking Social Security?

[Nazgul]

62 on advise from my accountant at that time. Was about age 79 or 80 until the amount received from waiting to 67 would be greater than reduced amount starting at 62. That was basically same as life expectancy for males. Dieing any time prior would give edge to 62, dieing after would pay to wait to 67.

This exactly. 62 for me. Never looked back.

Don

 

[rob63]

There is also the factor of a possible future means test where I make too much money in retirement to qualify for social security. It may seem far fetched, but in todays world, it could happen.

I was going to bring this up, but it looks like you are already aware of it. I don't remember the numbers off the top of my head and don't care to look it up, but we are just a few years away from the point when the current payments into the system can no longer keep up with the payments out. Adjustments will have to be made on the receiving end, there just aren't enough workers. Get it while you can.

 

[rem788]

Retired at 62, started SS at 66 1/2 for full benefit. Originally our financial advisor advised waiting until 70 to maximize the amount but later recommended starting earlier. His reasoning was as stated before, that possibility that the SS benefit could be reduced or eliminated based on income. Luckily, we don't have to depend on SS to survive so if the politicians start mucking around with it we would be fine, just pissed.

 

[Frosty]

My uncle retired at 68 dies at 68 never got a penny.

My dad retired at 65, died less than a year later.

 

[4sarge]

My dad retired at 65, died less than a year later.

I did the Math and unless I live forever, taking the $$ at 62 was the Best for me. My Father worked till 70, Maxed out, was Dead within 3 years. Wife's Family mostly Dead by Age 65. I saw the Writing on the Wall. 50 Years of Work is Plenty for Any Man or Woman. I do Not plan on Spending my last years frail, dependent, in a home like a patient-ed prisoner. To each, His Own. The Govt Wants You to Work till Death. They Hold the ACE of SPADES. LIFE is SHORT - ENJOY it While YOU CAN

 

[joncon]

I retired at 62, I'm now 75. No regrets on taking SS at age 62.

 

[04FXSTS]

Full retirement was 66 so worked till then and about 4 extra months because it was winter so worked till spring last day was March 31. Had a job I liked and wanted to draw as much monthly as possible and am now glad I did it that way. Jim.

 

[Hkindiana]

What if you love your job so much that you never want to retire?

 

[4sarge]

What if you love your job so much that you never want to retire?

WORK as Long as You Like or as Long as they'll have You

 

[GodFearinGunTotin]

What if you love your job so much that you never want to retire?

You are a lucky man.

 

[gregkl]

62 here. I don't know how long I will live or how long I will have a vibrant life if I live longer than today.

However, based on my current health, I look to live quite awhile.

My dad died of cancer at 68. He was healthy as a young horse until 7 months before he died. So you never know.

No guarantees and if I work long, retire later in life and die, well then my wife gets the higher benefit.

I can't retire at 62 and frankly am surprised at how many of you did so. A, I don't have enough money to retire and B, I don't want to be without any medical benefits.

I may retire at 65, but most likely will wait until 67 to get the full benefit. I may even take a less stressful, part time job and wait until I hit 70 to start drawing.

My mom is 94 and ran out of money in her 80's and though she is doing okay with pension, retirement and Medicaid waivers, it's not the best situation.

But you just never know what the near future brings; most of us are on major life event away from everything changing.

 

[CindyE]

The insurance is the biggest factor for me. I just turned 60. The lifespans in my family are all over the place. Dad died at 64, but mom is still doing pretty well in her 80s. I have a decent job, and I'm lucky that it is close to home, considering the gas prices. Husband has some issues that may cause him to retire this year at 63. Just taking it day to day for now. I would like to have more money, but i also want time to garden more, travel, get more exercise, enjoy the grandkids, etc.

 

[indyblue]

I’m struggling with this right now. I was laid off a year ago at the end of the pandemic and I am now 60 1/2. No Debts other than the mortgage. My wife passed in 2014 from cancer at the age of 51.

Other than the mortgage, insurance is my biggest bill. But I recently found out I could draw on my wife’s Social Security since I became 60 (widowers benefit). This may save me from having to go back to work since I can draw on hers until my full retirement age and then take mine which will be significantly more. If I wait until 70 I can get even more, I’ve been told it goes up about 8% every year over your retirement age you wait.

Both parents lived until 82.

 

[Frosty]

I did the Math and unless I live forever, taking the $$ at 62 was the Best for me. My Father worked till 70, Maxed out, was Dead within 3 years. Wife's Family mostly Dead by Age 65. I saw the Writing on the Wall. 50 Years of Work is Plenty for Any Man or Woman. I do Not plan on Spending my last years frail, dependent, in a home like a patient-ed prisoner. To each, His Own. The Govt Wants You to Work till Death. They Hold the ACE of SPADES. LIFE is SHORT - ENJOY it While YOU CAN

Good advice. The plan (hope) is I’ll retire at 62, assuming it’s still possible to get SS in 18 years. The mortgage will have been paid off for several years, so I’ll be able to buy my fast sports car and drive around town real slow. Gotta enjoy the little things in life Of course this also assumes I’ve grown up enough to not do stupid ****. My wife says I’m just one “hey y’all watch this” away from leaving her a single mom.

 

[jerrob]

What if you love your job so much that you never want to retire?

Then consider yourself a very lucky man and that many of us here are envious.
My experience was a little different, I started hating my job while I was filling out the application for employment, the job itself sucked, but that's why they call it work. It was good pay, benefits, retirement plans and job security.
34 long years later, retired at 55.........................that's right, suck it government.

 

[Nazgul]

As stated earlier I retired at 62, the job I loved was killing me. Bought an Indian Motorcycle and haven't stopped since. Mom and Dad lived into their 90's but I am not betting on it.

Don

 

[Expat]

You guys are killing me here. I turn 62 in September and have started mulling...

 

[Shadow01]

I know I will be a lot older when drawing than when they started taking it away from my paycheck.

 

[SnoopLoggyDog]

Lots of very good advice in here. Next thing for us to figure out is when to start my wifes social security?

 

[Creedmoor]

I did the Math and unless I live forever, taking the $$ at 62 was the Best for me. My Father worked till 70, Maxed out, was Dead within 3 years. Wife's Family mostly Dead by Age 65. I saw the Writing on the Wall. 50 Years of Work is Plenty for Any Man or Woman. I do Not plan on Spending my last years frail, dependent, in a home like a patient-ed prisoner. To each, His Own. The Govt Wants You to Work till Death. They Hold the ACE of SPADES. LIFE is SHORT - ENJOY it While YOU CAN

I have been paying taxes since 1972, we tend to croke between 84-92 years old.
But the occasional tractor or single engine airplane has done a few of my family in over the years. Im done at 66 1/2.